Granite Point Mortgage (GPMT)
NYSE:GPMT
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Granite Point Mortgage
(NYSE:GPMT)
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Rating:45Neutral
Price Target:
$1.50
▲(7.14% Upside)
Action:ReiteratedDate:02/19/26
The score is held down primarily by weak fundamentals—recurring losses and a sharp deterioration in cash generation to zero in 2025—along with bearish technicals (below key moving averages and negative MACD). These are partly offset by a high dividend yield and a somewhat improved outlook from management actions and 2026 regrowth/leverage targets, though near-term credit costs and problem-loan concentration remain significant risks.
Positive Factors
Business model - senior floating-rate focus
Granite Point’s core strategy centers on senior, floating-rate mortgage loans secured by institutional-quality commercial properties. This asset mix provides durable interest-margin protection in rising rate environments and senior collateral positions that typically reduce loss severity over credit cycles.
Negative Factors
Cash-generation deterioration
The collapse of operating and free cash flow to zero is a durable red flag: without cash generation the REIT must rely on asset sales, external funding or capital actions to cover operations and distributions, constraining growth and increasing refinancing and liquidity risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Business model - senior floating-rate focus
Granite Point’s core strategy centers on senior, floating-rate mortgage loans secured by institutional-quality commercial properties. This asset mix provides durable interest-margin protection in rising rate environments and senior collateral positions that typically reduce loss severity over credit cycles.
Read all positive factors
Granite Point Mortgage (GPMT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$66.59M
Dividend Yield7.97%
Average Volume (3M)187.12K
Price to Earnings (P/E)―
Beta (1Y)1.16
Revenue Growth-28.13%
EPS Growth62.49%
CountryUS
Employees33
SectorReal Estate
Sector Strength53
IndustryREIT - Mortgage
Share Statistics
EPS (TTM)-0.06
Shares Outstanding47,563,644
10 Day Avg. Volume181,526
30 Day Avg. Volume187,116
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)0.21
Price to Sales (P/S)0.79
P/FCF Ratio43.08
Enterprise Value/Market Cap17.61
Enterprise Value/Revenue10.02
Enterprise Value/Gross Profit18.69
Enterprise Value/Ebitda72.89
Forecast
1Y Price Target
$2.05Price Target Upside46.43% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-1.16
Revenue Forecast (FY)$34.45M
Granite Point Mortgage Business Overview & Revenue Model
Company Description
Granite Point Mortgage Trust Inc., a real estate investment trust, originates, invests in, and manages senior floating-rate commercial mortgage loans, and other debt and debt-like commercial real estate investments in the United States. The compan...
How the Company Makes Money
GPMT makes money primarily from net interest income generated on its commercial real estate debt investments. It earns interest income on loans it originates or purchases (most notably senior, typically floating-rate commercial mortgage loans) and...
Granite Point Mortgage Earnings Call Summary
Earnings Call Date:Feb 11, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Neutral
The call presents a balanced picture: strong market momentum, meaningful loan repayments and debt-cost improvements are offset by a Q4 GAAP loss, a notable CECL reserve build, REO impairment, concentrated problem loans (~$249M UPB) and a near-term decline in portfolio size. Management highlighted several constructive operational actions (resolutions, debt paydowns, ROE repositioning and plans to restart originations in 2026) that should help improve earnings and liquidity over time, but material credit-related charges and outstanding work on several large problem loans temper near-term optimism.Positive Updates
Market Recovery and Improved Liquidity
Management cited a constructive 2025 for commercial real estate with greater capital availability across property types, stronger CMBS and CLO issuance, increased activity from large commercial banks and returning regional banks, and continued market momentum into early 2026.
Negative Updates
GAAP Net Loss and Distributable Loss
GAAP net loss attributable to common stockholders for Q4 was $27.4M, or -$0.58 per share. Distributable loss for the quarter was $2.7M, or -$0.06 per share.
Read all updates
Q4-2025 Updates
Positive
Negative
Market Recovery and Improved Liquidity
Management cited a constructive 2025 for commercial real estate with greater capital availability across property types, stronger CMBS and CLO issuance, increased activity from large commercial banks and returning regional banks, and continued market momentum into early 2026.
Read all positive updates
Company Guidance
Management guided that they expect to begin regrowing the portfolio in 2026—after a near‑term decline as they continue loan and REO resolutions—and to expand financing capacity as originations resume later in the year, with a goal of moving leverage closer to their 1.7x target from 2.0x today; they also highlighted recent repayment of higher‑cost debt that reduced repurchase facility cost by roughly 60 basis points for an estimated ~$0.10 per share of annual savings and noted two post‑quarter full loan repayments totaling $174.0M. Key portfolio and liquidity context tied to that guidance: $1.8B total loan commitments (≈$1.7B UPB, ~$77M future fundings ≈4%), 43 investments (avg UPB ≈$39M), weighted avg risk rating 2.9, realized Q4 portfolio yield 6.7% (would be 8.0% excl. nonaccruals), 2025 loan repayments ≈$469M (Q4 repayments/partial paydowns $45M; net Q4 reduction ≈$30M), aggregate CECL reserve ≈$148M (≈$105M specific on ~$249M UPB, ~42% of those balances), GAAP Q4 net loss $27.4M (−$0.58/sh), distributable loss $2.7M (−$0.06/sh), book value $7.29/sh at 12/31, and liquidity of ~$66M unrestricted cash at quarter end (≈$55M a few days later).Granite Point Mortgage Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
44
Neutral
Cash Flow
20
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 145.28M | -165.53M | -22.67M | 78.26M | 87.53M |
| Gross Profit | 120.62M | -170.88M | -27.99M | 78.26M | 87.53M |
| EBITDA | 56.88M | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | -41.15M | -207.05M | -63.20M | -40.83M | 68.35M |
Balance Sheet | |||||
| Total Assets | 1.76B | 2.12B | 2.85B | 3.45B | 3.99B |
| Cash, Cash Equivalents and Short-Term Investments | 65.96M | 87.79M | 188.37M | 133.13M | 191.93M |
| Total Debt | 1.17B | 1.47B | 1.95B | 2.43B | 2.26B |
| Total Liabilities | 1.20B | 1.50B | 1.99B | 2.47B | 2.97B |
| Stockholders Equity | 552.69M | 619.09M | 858.90M | 984.54M | 1.01B |
Cash Flow | |||||
| Free Cash Flow | 2.67M | 5.99M | 52.10M | 58.90M | 60.30M |
| Operating Cash Flow | 2.67M | 8.76M | 52.10M | 58.90M | 60.30M |
| Investing Cash Flow | 299.00M | 435.24M | 561.43M | 408.63M | 139.77M |
| Financing Cash Flow | -336.07M | -528.74M | -554.47M | -531.66M | -324.97M |
Granite Point Mortgage Technical Analysis
Negative
1.40
Price Trends
1.88
Negative
2.21
Negative
2.42
Negative
Market Momentum
-0.13
Positive
25.33
Positive
16.74
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GPMT, the sentiment is Negative. The current price of 1.4 is below the 20-day moving average (MA) of 1.60, below the 50-day MA of 1.88, and below the 200-day MA of 2.42, indicating a bearish trend. The MACD of -0.13 indicates Positive momentum. The RSI at 25.33 is Positive, neither overbought nor oversold. The STOCH value of 16.74 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GPMT.
Granite Point Mortgage Risk Analysis
Granite Point Mortgage disclosed 72 risk factors in its most recent earnings report. Granite Point Mortgage reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Granite Point Mortgage Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | $183.26M | 8.79 | 5.46% | 13.82% | -18.06% | -18.94% | |
58 Neutral | $134.21M | 7.14 | 4.99% | ― | -18.37% | 18.80% | |
51 Neutral | $263.55M | -16.99 | -0.17% | 13.75% | -30.60% | 87.95% | |
50 Neutral | $93.32M | -25.12 | 2.95% | 21.65% | 22.14% | ― | |
46 Neutral | $63.40M | -2.38 | -1.20% | 23.03% | -31.69% | -72.10% | |
45 Neutral | $66.59M | -2.79 | -7.12% | 7.97% | -28.13% | 62.49% |
* Real Estate Sector Average
GPMT
Granite Point Mortgage
1.40
-1.01
-41.79%
ACRE
Ares Commercial
4.76
0.41
9.50%
ACR
ACRES Commercial Realty
18.82
-2.85
-13.15%
SEVN
Seven Hills Realty Trust
8.11
-2.91
-26.41%
LFT
Lument Finance Trust
1.21
-1.28
-51.44%
CHMI
Cherry Hill Mortgage
2.54
-0.47
-15.61%
Granite Point Mortgage Corporate Events
Business Operations and StrategyFinancial Disclosures
Granite Point Mortgage Highlights Portfolio in January 2026 Update
Positive
Jan 5, 2026
Granite Point Mortgage Trust has released a January 2026 investor presentation providing a detailed business overview that highlights its $1.8 billion portfolio of 44 primarily senior, floating-rate first mortgage loans on transitional U.S. commer...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.